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Plesio (CO) investor relations material
Plesio Corporate presentation summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Negotiation process and timeline
Discussions initiated with Quatrim bondholders to adapt and strengthen the financial structure.
Initial proposals exchanged between the company and the Ad Hoc Group (AHG) in late July 2026.
Counter-proposals submitted by both parties on August 6 and 7, 2026.
Key terms of the company's August 6, 2026 proposal
Proposes a 12-month extension of Quatrim bond maturity to January 2029, with no Day 1 repayment.
Maintains 8.5% PIYC coupon, adjustable by 100 bps based on asset sale proceeds.
Offers 25 bps cash commission to AHG and consenting bondholders.
Reduces minimum liquidity threshold from €40M to €15M; Monoprix to support liquidity if needed.
Management incentive package and TSA terms to be agreed.
Key terms of the AHG's August 7, 2026 proposal
Offers two options: 12-month or 6-month maturity extension, with partial Day 1 repayment (€10M or €5M).
Retains 8.5% PIYC coupon, with same adjustment mechanism as company proposal.
Proposes higher cash commissions (50 bps) and higher conditional extension commissions (up to 300 bps PIK).
Reduces minimum liquidity to €15M, with Monoprix support if breached.
Management incentive package and TSA extension to be finalized.
- Adjusted EBITDA up 13.9% in H1 2026, with net loss at €205m and liquidity at €713m.CO
H1 2026 - Adjusted EBITDA up 10.4% and sales stable, amid ongoing restructuring and legal actions.CO
Q1 2026 TU - Adjusted EBITDA rose 13.7% to €655m as trading profit turned positive, but net loss widened.CO
H2 2025 - 2025 saw modest LFL sales growth, strong Naturalia gains, and Cdiscount's Q4 rebound.CO
H2 2025 TU - Adjusted EBITDA up 13% to €456m, with net sales growth and improved free cash flow.CO
Q3 2025 TU - Sales and EBITDA improved, but net loss and high leverage persist amid transformation.CO
H1 2025 - Debt restructuring and asset sales drove a €5.1bn debt cut and return to profit.CO
H1 2024 - All 42 AGM resolutions passed as the group pivots to convenience retail after deep restructuring.CO
AGM 2024 - All resolutions passed as the group pivots to convenience retail and implements Renewal 2028.CO
AGM 2025
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